India's fintech companies are increasingly looking beyond UPI payments, using them as a gateway to build higher-margin businesses such as lending, commerce and financial services. According to reports from The Hindu BusinessLine, Flipkart-backed super.money said the next phase of fintech growth will be driven by platforms that can convert payment users into long-term financial services customers. As competition intensifies in the UPI ecosystem, fintech firms are shifting focus from transaction volumes to monetisation through credit, cards and commerce.
Prakash Sikaria, founder and chief executive of super.money, outlined the company's approach built around three pillars — using UPI for customer engagement, credit for monetisation and commerce and financial services to increase customer lifetime value. As reported by The Hindu BusinessLine, the company views cashback as part of the product experience, aimed at encouraging everyday usage and helping users build financial habits. The strategy reflects a broader trend across the fintech industry, where newer players are using payments to cross-sell lending and other financial products.
According to Sikaria, nearly 40-45 per cent of super.money's users are first-time formal credit customers. The company has also become one of the country's largest distributors of secured credit cards, targeting younger consumers beginning their credit journey. As reported by The Hindu BusinessLine, the company is betting heavily on younger users, with over 75 per cent of its customer base belonging to Gen Z, a segment it believes prefers simple, digital-first financial products.
Companies such as Navi, Kiwi, Kredit.Pe and POP are similarly leveraging UPI to acquire users before expanding into adjacent businesses. According to Sikaria, the next phase of India's fintech evolution will be won by the platform that earns the deepest trust, expands access to financial services responsibly and becomes consumers' primary app for all things finance-related. The shift underscores how India's fintech ecosystem is evolving from a payments-led market to one where long-term value will increasingly depend on a company's ability to cross-sell financial products and deepen customer relationships.
